New Gold (NYSE:NGD – Get Free Report) was upgraded by analysts at TD Securities from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports.
A number of other research analysts also recently issued reports on the stock. Scotiabank upgraded shares of New Gold from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $2.00 to $2.25 in a research report on Tuesday. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Monday. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1.69.
Get Our Latest Stock Report on New Gold
New Gold Price Performance
New Gold (NYSE:NGD – Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $192.10 million during the quarter. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. Equities analysts anticipate that New Gold will post 0.11 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Coppell Advisory Solutions Corp. acquired a new stake in shares of New Gold in the 1st quarter worth about $30,000. Moloney Securities Asset Management LLC purchased a new stake in shares of New Gold in the first quarter worth approximately $42,000. HC Advisors LLC raised its stake in shares of New Gold by 13.4% in the fourth quarter. HC Advisors LLC now owns 214,559 shares of the company’s stock worth $313,000 after purchasing an additional 25,300 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of New Gold by 27.9% in the first quarter. Virtu Financial LLC now owns 180,386 shares of the company’s stock valued at $307,000 after purchasing an additional 39,340 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of New Gold by 1.0% during the third quarter. American Century Companies Inc. now owns 5,095,417 shares of the company’s stock valued at $4,669,000 after buying an additional 48,886 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.
About New Gold
New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.
Read More
- Five stocks we like better than New Gold
- What is the Shanghai Stock Exchange Composite Index?
- TJX Companies Can Hit New Highs; Double-Digit Upside to Follow
- Transportation Stocks Investing
- A Hidden Gem Retailer With 20% Upside
- Most active stocks: Dollar volume vs share volume
- Zoom Stock’s Earnings Volatility Picked Up a Lot of Buyers
Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.